April 21

Chile Plans to Nationalize Its Vast Lithium Industry

By Alexander Villegas and Ernest Scheyder

Chile’s President Gabriel Boric said on Thursday he would nationalize the country’s lithium industry, the world’s second largest producer of the metal essential in electric vehicle batteries, to boost its economy and protect its environment.

The shock move in the country with the world’s largest lithium reserves would in time transfer control of Chile’s vast lithium operations from industry giants SQM (SQMA.SN) and Albemarle (ALB.N) to a separate state-owned company.

Photo courtesy of Finnrich.

Source: Reuters (link opens in a new window)

Energy, Technology
business development, electric vehicles, global development, renewable energy